# Lottery-Linked Savings Lottery Savings Accounts Let Savers Win Big Cash Prizes By Katie Cordrey | Published 2010-11-22 | Lifestyle Source: Trend Hunter, https://www.trendhunter.com/trends/lottery-savings-accounts References: [freakonomics.blogs.nytimes](http://freakonomics.blogs.nytimes.com/2010/11/18/freakonomics-radio-could-a-lottery-be-the-answer-to-americas-poor-savings-rate/) & [marketplace.publicradio.org](http://marketplace.publicradio.org/display/web/2010/11/16/pm-freakonomics-savings-security-with-gambling-thrills/) Lottery savings accounts give you a chance to win cash prizes instead of earning regular interest on your savings. When you put your money into a lottery savings account, you're paid less interest than holders of standard savings accounts. The unpaid interest is accumulated and given as a lottery prize, usually once a month, to one of the lottery savings account holders. And that can be big money! In the U.S., lottery savings accounts are only legal in Michigan: Most state-run lotteries prohibit anyone else from using lottery payouts -- even banks. ## Trend Insights (Trend Hunter) - Score: 1.7/10 - Popularity: 1% | Activity: 42% | Freshness: 8% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America, Europe ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Lifestyle](https://www.trendhunter.com/lifestyle) > [Credit Crunch](https://www.trendhunter.com/creditcrunch) ## Key Themes ### What's Driving This Trend - **Lottery-linked Savings:** Disruptive innovation opportunity: Develop innovative lottery-linked savings accounts that offer unique prizes and incentives to attract and engage savers. - **Alternative Interest Models:** Disruptive innovation opportunity: Explore alternative interest models that provide non-traditional incentives for saving, such as lottery-style payouts. - **Gamified Saving Platforms:** Disruptive innovation opportunity: Create gamified saving platforms that combine financial education with lottery-style rewards to encourage saving habits and financial wellness. ### Who This Affects Most - **Banking:** Disruptive innovation opportunity: Banks can develop lottery savings accounts as a new product offering to attract a different segment of customers and incentivize saving. - **Fintech:** Disruptive innovation opportunity: Fintech companies can leverage technology and alternative interest models to create innovative lottery-linked savings platforms. - **Gaming and Entertainment:** Disruptive innovation opportunity: Gaming and entertainment companies can tap into the popularity of lotteries to create gamified saving platforms that blend financial goals with entertainment. ## Related on Trend Hunter - [Social Good Lotteries](https://www.trendhunter.com/trends/national-lottery-projects.md) - [High-Interest Tech Savings Accounts](https://www.trendhunter.com/trends/apple-card-savings-account.md) - [Digital Lottery Platforms](https://www.trendhunter.com/trends/ilottery-program.md) - [Number Matching Cash Lotteries](https://www.trendhunter.com/trends/cash-pop.md) - [Cash Prize Scratch Games](https://www.trendhunter.com/trends/scrattchoff.md) - [Crypto-Compatible Indian Lotteries](https://www.trendhunter.com/trends/indian-lottery.md) - [Rewarding Community Cleanup Applications](https://www.trendhunter.com/trends/litterlotto.md) - [Consolidated Christmas Lottery Apps](https://www.trendhunter.com/trends/lottery-campaign.md) - [Lottery Simulation Tools](https://www.trendhunter.com/trends/scratch-lottery-simulation-program.md)